South Cook News

South Cook News

Tuesday, February 18, 2020

Former state university employee Gray paid in $138K to pension fund, could collect $2.74M in retirement


By Local Labs News Service | Aug 1, 2018

Money 05

Former state university employee Susan Gray, who retired in July 2018, saved $138,201 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gray would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Gray received $57,615 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gray will have already received $178,081 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about Moraine Valley Community College ?

Sign-up Next time we write about Moraine Valley Community College, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Moraine Valley Community College

More News